Amendment status not verified — confirm the current text below against the official source.
Annual Meeting of General Assembly.—(1) A general meeting to be •termed the annual general meeting of the General Assembly of a registered society shall be held at least once in every Co-operative year for the purpose of— (a) electing members to the Administrative Council, managing body and other committees of the society, the Chairman, Vice-Chairman, and other office bearers, as may be provided in the bye-laws, and fixing such fees, salaries or other -remuneration as prescribed in the bye-laws ; provided that the Government may mrescribe by rules the qualifications necessary for office-bearers and employees; (b) electing an internal auditor or auditors, who shall not be members the Administrative Council or governing body, and fixing the remuneration; (c) considering the annual report of the Administrative Council or, if there no Administrative Council, of the managing body, audit report and audited | ^annual accounts and balance sheets and reviewing the working of the society I during the preceding Co-operative year ; (d) deciding how profits are to be distributed in accordance with the bye- s : laws ; (e) passing the annual budget and approving the programme of work for I Bhe ensuing year ; (f) fixing the maximum amount of liability to be incurred during the •ensuing year and the maximum rate of interest payable on deposits ; and (g) considering such other business as may be placed before the meeting | Jn accordance with the bye-laws. (2) Such meeting shall be held not more than fifteen months after the date a sof the last preceding meeting held under sub-section (1) and unless the Regis- ■ trar on special grounds extend the period, within three months of the receipt of the statutory annual audit report.